BusinessWeek – Davide Erro, ex-chief investment officer of Gandhara Capital and a former Goldman Sachs Group Inc. trader, plans to start a new hedge fund in early April, said four people with knowledge of the matter.

Hong Kong-based Turiya Advisors Asia will start investments with at least $100 million from employees, friends and family, said the people, who declined to be identified because the information is private. The fund will trade stocks with investments about equally split between Japan, the rest of Asia and Europe, and will target annual returns of 15 percent to 20 percent after fees, they added.

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